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Credit cards after bankruptcy

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New Contributor

Credit cards after bankruptcy

I have read some foruma about cards out of BK, but they all seem to be several years old. (Most recent i found was like 6 years old)

What cards are best right out of BK? Just received DC a week ago and want to start rebuilding to hopefully be able to buy a house in a few years.

I was approved for unsecured cap 1 platinum 500 limit and hubby was approved at 300 for the same card... is this a good one?

What are good cards we could most likely get that will increase the limits a good amount over time? We didnt really burn many banks and no big places besides paypal and usbank.

Any insight into morr current cards is much appreciated!
Chap 7 discharged 12/2018
Car loan 12/2018 Refinanced 8/2019
Capital one QS 750 1/2019
NFCU Nrewards 2k 2/2019

CURRENT FICO9 Equifax 695

Hubby is on same car loan and Chap 7
Capital 1 platinum 500 1/2019
NFCU Nrewards 2k 1/2019

CURRENT FICO9 Equifax 627 (just updated 10/16)
Message 1 of 14
13 REPLIES 13
Regular Contributor

Re: Credit cards after bankruptcy

Capital one plat is the first one I'm going for then later upgrade it to a quick silver. From what I've read If you request a cli prior to your first baby steps increase with cap one you might get two increases. The one I read about said they waited till they got their 3rd statement and got an increase by requesting it.

Do you have access to navy fed? I burned them so I cant go there but that is a good one.

From what I've read stay away from credit one.

Before you apply for anything try to do a pre-qualify on their site. It's not 100% guarantee but its guidance as to which to apply for and it is a soft pull for prequal.
Message 2 of 14
Community Leader
Super Contributor

Re: Credit cards after bankruptcy


@Disneymom234 wrote:
I have read some foruma about cards out of BK, but they all seem to be several years old. (Most recent i found was like 6 years old)

What cards are best right out of BK? Just received DC a week ago and want to start rebuilding to hopefully be able to buy a house in a few years.

I was approved for unsecured cap 1 platinum 500 limit and hubby was approved at 300 for the same card... is this a good one?

What are good cards we could most likely get that will increase the limits a good amount over time? We didnt really burn many banks and no big places besides paypal and usbank.

Any insight into morr current cards is much appreciated!

Obviously not HERE on fico. You need to do a lot of research here on THIS forum. The search button at the top will your friend Smiley Wink

 

and yes, Cap1 is a good card to have. I started them 3 days post DC over 5 1/2 yrs ago, and now I have a Venture with a $48k limit...it takes time, but its all possible Smiley Happy


My rebuild worked for me, but won't necessarily work for you!
BK7 D/C- 08/2013
Message 3 of 14
Member

Re: Credit cards after bankruptcy

I would suggest checking to see if you are pre-qual with Discover.  You might get offered a secured card with them but it will be a starting point with a card that will grow with you if managed properly.

Message 4 of 14
Member

Re: Credit cards after bankruptcy

Edit due to double reply

Message 5 of 14
Senior Contributor

Re: Credit cards after bankruptcy

You got the same card I started with 3yrs 4 months ago. But things have changed a bit since 2015. Yes you can ask for a CLI after 3 statements and still get the CS CLI. Trick is. Use it like a debit card. Pay it off every 2 weeks on payday. Dont carry any balance. Let it report zippo. Then upgrade after you boith get the CS CLI. Do not go after the QS1 and the $39 AF. It wont move and it is hard to upgrade. After 6 months try the Disco pre-qual. If you dont get an approval. Try the secured. You get all the benes and it graduates. Store cards are HP's now. Avoid them unless you shop at a certain store a lot. Only about every 4-6 months try for another card. Dont rush it. After a year then it will get easier to get better cards.





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 6 of 14
New Contributor

Re: Credit cards after bankruptcy

I have searched here. Most with a lot of answers are from years ago.. unless the search onky wants to pull thise for some reason for me
Chap 7 discharged 12/2018
Car loan 12/2018 Refinanced 8/2019
Capital one QS 750 1/2019
NFCU Nrewards 2k 2/2019

CURRENT FICO9 Equifax 695

Hubby is on same car loan and Chap 7
Capital 1 platinum 500 1/2019
NFCU Nrewards 2k 1/2019

CURRENT FICO9 Equifax 627 (just updated 10/16)
Message 7 of 14
New Contributor

Re: Credit cards after bankruptcy

Any certain cards that are best with them? Or to avoid?
Chap 7 discharged 12/2018
Car loan 12/2018 Refinanced 8/2019
Capital one QS 750 1/2019
NFCU Nrewards 2k 2/2019

CURRENT FICO9 Equifax 695

Hubby is on same car loan and Chap 7
Capital 1 platinum 500 1/2019
NFCU Nrewards 2k 1/2019

CURRENT FICO9 Equifax 627 (just updated 10/16)
Message 8 of 14
Frequent Contributor

Re: Credit cards after bankruptcy

FireMedic1 and Pizza1 both gave you the answers you need. You have already started off with a decent card. Try Discover and/or a credit union. If you don't have an installment loan you can always get a Self Lender loan as well.
BK CH7--Filed September 25, 2018--D/C Jan.4, 2019
{FICO8 Feb.12, 2019--TU 580--EX 600--EQ 626}

Credit One Visa ($500 now $700) Nov. 2018
SelfLender (2 year) Nov. 2018
Capital One Platinum MC ($2000) Jan. 2019
Target RedCard ($500) April 2019
Venus Comenity ($500) May 2019 no HP


FICO 8 SCORES: 06-02-2019616 TU613 EX638 EQ
Message 9 of 14
New Contributor

Re: Credit cards after bankruptcy

Is it worth it to get a secured discover? Or if thats all they offer.. should i try elsewhere?
Chap 7 discharged 12/2018
Car loan 12/2018 Refinanced 8/2019
Capital one QS 750 1/2019
NFCU Nrewards 2k 2/2019

CURRENT FICO9 Equifax 695

Hubby is on same car loan and Chap 7
Capital 1 platinum 500 1/2019
NFCU Nrewards 2k 1/2019

CURRENT FICO9 Equifax 627 (just updated 10/16)
Message 10 of 14
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